Immatics (NASDAQ:IMTX) Stock Price Down 3.8% - Should You Sell?

Immatics N.V. (NASDAQ:IMTX - Get Free Report) fell 3.8% on Wednesday . The company traded as low as $5.91 and last traded at $5.91. 413,923 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 659,013 shares. The stock had previously closed at $6.14.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IMTX. Cantor Fitzgerald restated an "overweight" rating on shares of Immatics in a research note on Tuesday, April 1st. Wall Street Zen lowered Immatics from a "hold" rating to a "strong sell" rating in a research note on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Immatics in a research report on Wednesday, May 28th. They set a "buy" rating and a $10.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $14.67.

Immatics Stock Performance

The stock has a market capitalization of $681.90 million, a P/E ratio of -33.00 and a beta of 0.83. The firm has a 50-day moving average price of $5.11 and a 200 day moving average price of $5.37.

Immatics (NASDAQ:IMTX - Get Free Report) last announced its quarterly earnings data on Tuesday, May 13th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.04. The firm had revenue of $20.12 million for the quarter, compared to analyst estimates of $14.92 million. Immatics had a negative return on equity of 4.52% and a negative net margin of 14.73%. On average, equities analysts anticipate that Immatics N.V. will post -0.72 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Immatics

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE grew its position in Immatics by 166.0% during the 4th quarter. Bank of America Corp DE now owns 3,575 shares of the company's stock worth $25,000 after acquiring an additional 2,231 shares during the last quarter. Virtus ETF Advisers LLC grew its position in Immatics by 34.8% during the 4th quarter. Virtus ETF Advisers LLC now owns 9,594 shares of the company's stock worth $68,000 after acquiring an additional 2,479 shares during the last quarter. Intellectus Partners LLC bought a new position in Immatics during the 1st quarter worth approximately $70,000. Guggenheim Capital LLC bought a new position in Immatics during the 4th quarter worth approximately $101,000. Finally, Forefront Analytics LLC grew its position in Immatics by 42.3% during the 4th quarter. Forefront Analytics LLC now owns 15,911 shares of the company's stock worth $113,000 after acquiring an additional 4,731 shares during the last quarter. 64.41% of the stock is currently owned by institutional investors.

About Immatics

Immatics N.V., a clinical-stage biopharmaceutical company, focuses on the research and development of potential T cell redirecting immunotherapies for the treatment of cancer in the United States. The company is developing targeted immunotherapies with a focus on treating solid tumors through two distinct treatment modalities, such as TCR-engineered autologous or allogeneic adoptive cell therapies (ACT) and antibody-like TCR Bispecifics.